Liquidated damages
This query is : Resolved
03 August 2011
Can u please specify the foll. queries.
1. Can TDS needs to be deducted on paying of Liquidated damages.
2. Whether Such damages allowed as Business expenses for Audit Purpose.
3. Can payment of Liq. Damges can be capitalised and WIP Transferred.
Regards,
manish
1. Can TDS needs to be deducted on paying of Liquidated damages.
2. Whether Such damages allowed as Business expenses for Audit Purpose.
3. Can payment of Liq. Damges can be capitalised and WIP Transferred.
Regards,
manish
03 August 2011
1.Payment of liquidated damages also attract TDS
2.Yes.Liquidated damages also allowable business expenses
3.yes. if it is related to capital works can be capitalised
2.Yes.Liquidated damages also allowable business expenses
3.yes. if it is related to capital works can be capitalised
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